Group says global drought conditions are driving up price of grain, a major staple in hog feed
LONDON—A British farming organization is predicting a worldwide shortage of bacon and pork next year.
The National Pig Association says global drought conditions are driving up the price of grain, a major staple in hog feed.
It says pig farmers around the world are selling their herds because retail prices are not rising fast enough to cover the cost of record-high pig-feed costs.
In the United States, the government has introduced a pork-buying program in a bid to keep its pig farmers in business.
The Chinese government is putting pork into cold storage as a buffer against shortages and high prices next year.
Iowa-based agricultural economist Steve Meyer says he expects to see record prices for pork next year.
He says high grain prices affect all meat suppliers, meaning beef, chicken and turkey supplies could also be affected.